The Prague Post - Fossil fuels causing cost-of-living crisis: climate expert

EUR -
AED 4.17633
AFN 75.629335
ALL 93.552771
AMD 417.030966
AOA 1042.80361
ARS 1704.08887
AUD 1.626138
AWG 2.046943
AZN 1.935917
BAM 1.952025
BBD 2.2907
BDT 140.39847
BHD 0.428569
BIF 3397.314667
BMD 1.137191
BND 1.46722
BOB 12.800638
BRL 5.823099
BSD 1.137315
BTN 109.025459
BWP 15.615418
BYN 3.262719
BYR 22288.937268
BZD 2.287396
CAD 1.604786
CDF 2570.050757
CHF 0.931075
CLF 0.027296
CLP 1074.258612
CNY 7.701172
CNH 7.693897
COP 3662.504526
CRC 517.601237
CUC 1.137191
CUP 30.135553
CVE 110.052159
CZK 24.162115
DJF 202.53631
DKK 7.474828
DOP 66.173475
DZD 151.706865
EGP 57.677624
ERN 17.05786
ETB 183.576015
FJD 2.535028
FKP 0.853619
GBP 0.854712
GEL 2.985181
GGP 0.853619
GHS 13.238804
GIP 0.853619
GMD 84.151858
GNF 9978.701225
GTQ 8.678178
GYD 237.859393
HKD 8.917946
HNL 30.465749
HRK 7.534799
HTG 148.67573
HUF 360.408129
IDR 20546.192556
ILS 3.475028
IMP 0.853619
INR 109.069721
IQD 1489.951194
IRR 1563637.181069
ISK 142.694445
JEP 0.853619
JMD 179.932012
JOD 0.806281
JPY 186.172908
KES 147.378604
KGS 99.447734
KHR 4594.296448
KMF 493.54069
KRW 1670.193171
KWD 0.352995
KYD 0.947804
KZT 540.44241
LAK 25779.595737
LBP 101850.655884
LKR 382.440362
LRD 205.8564
LSL 18.996477
LTL 3.357829
LVL 0.687875
LYD 7.285909
MAD 10.647109
MDL 19.989132
MGA 4890.584631
MKD 61.411231
MMK 2387.57629
MNT 4084.244985
MOP 9.186735
MRU 45.402192
MUR 53.834955
MVR 17.569167
MWK 1972.163882
MXN 19.853774
MYR 4.645991
MZN 72.664945
NAD 18.997311
NGN 1550.502517
NIO 41.849064
NOK 10.993448
NPR 174.433646
NZD 1.966743
OMR 0.437251
PAB 1.13732
PEN 3.864626
PGK 5.092152
PHP 70.201626
PKR 315.920611
PLN 4.321239
PYG 6877.698554
QAR 4.146081
RON 5.233298
RSD 117.409274
RUB 88.729742
RWF 1674.228299
SAR 4.261836
SBD 9.189757
SCR 16.796815
SDG 682.886009
SEK 11.06594
SGD 1.468358
SLE 27.548438
SOS 649.943012
SRD 42.907318
STD 23537.551034
STN 24.45303
SVC 9.951753
SZL 18.994182
THB 38.255662
TJS 10.497912
TMT 3.980167
TND 3.369483
TRY 53.847135
TTD 7.724129
TWD 36.761948
TZS 2998.206634
UAH 51.078614
UGX 4270.796627
USD 1.137191
UYU 45.671671
UZS 13619.659623
VES 843.00104
VND 29925.172664
VUV 135.426139
WST 3.134462
XAF 654.716688
XAG 0.019387
XAU 0.000279
XCD 3.073315
XCG 2.049736
XDR 0.813579
XOF 654.69083
XPF 119.331742
YER 271.276853
ZAR 19.033263
ZMK 10236.078763
ZMW 21.251554
ZWL 366.174934
  • RBGPF

    -0.7300

    66

    -1.11%

  • CMSC

    -0.0450

    21.68

    -0.21%

  • RYCEF

    0.8000

    18.87

    +4.24%

  • BCC

    0.1750

    78.015

    +0.22%

  • GSK

    0.7500

    52.1

    +1.44%

  • BCE

    0.0300

    21.33

    +0.14%

  • AZN

    0.0750

    169.335

    +0.04%

  • BTI

    -0.3100

    60.65

    -0.51%

  • RIO

    0.1600

    91.38

    +0.18%

  • NGG

    -1.0930

    81.207

    -1.35%

  • JRI

    -0.1250

    12.935

    -0.97%

  • BP

    -1.2350

    42.585

    -2.9%

  • VOD

    0.6550

    15.805

    +4.14%

  • CMSD

    0.0000

    21.98

    0%

  • RELX

    1.5700

    35.98

    +4.36%

Fossil fuels causing cost-of-living crisis: climate expert
Fossil fuels causing cost-of-living crisis: climate expert / Photo: AXEL SCHMIDT - AFP/File

Fossil fuels causing cost-of-living crisis: climate expert

The cost-of-living crisis pushing millions of people towards poverty in Europe is driven by fossil fuels, according to a leading Earth systems scientist, who has warned that global heating risks causing runaway climate change.

Text size:

Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and co-author of the new book Earth For All, said that spiralling inflation was in large measure a result of decades of government failures to decarbonise their economies.

"I find it very disturbing that our political leaders in Europe are unable to communicate that high living costs right now are caused by higher prices on fossil fuels," he told AFP at the book's launch on Tuesday.

"So this is fossil fuel-driven, supply-driven inflation. If 20 years ago you invested in solar (panels) or had a share in a wind farm, you're not affected today.

"The only reason why we have this crisis now is that we've had 30 years of underinvestment in preparing towards this turbulent phase which we knew would be coming," said Rockstrom.

"We've been saying since 1990 that we need to phase out the fossil fuel-driven economy towards a renewable-driven economy. And now here we are -- we're now hitting the wall."

European energy prices soared to new records last week ahead of what many analysts expect to be a challenging winter as Russia's invasion of Ukraine continues to disrupt oil and gas supplies.

The year-ahead contract for German electricity reached 995 euros ($995) per megawatt hour, while the French equivalent surged past 1,100 euros -- a more than tenfold increase in both countries from last year.

In Britain, energy regulator Ofgem said it would increase the electricity and gas price cap almost twofold from October 1 to an average £3,549 ($4,197) per year.

Rockstrom, who helped pioneer the concept of planetary boundaries -- thresholds of pollution or warming within which humanity can thrive -- said he hoped the current energy price crisis would be "communicated as another nail in the coffin" for oil, gas and coal.

"This should accelerate our transition towards renewable energy systems," he said.

- 'Giant changes required' -

Rockstrom has spent two years working on Earth For All -- a guide to help humans survive climate change -- with several of the authors of The Limits to Growth.

Written 50 years ago, that groundbreaking work warned that the development of civilisation could not go on indefinitely with no limit to resource consumption.

The new book outlines two growth trajectories this century.

The first -- "Too Little, Too Late" -- sees the economic orthodoxy of the last 40 years endure, leading to ever starker inequality as the Earth's average temperature rises by 2.5 degrees Celsius (36.5 degrees Farenheit) by 2100.

The second -- the "Great Leap" scenario -- sees unprecedented mobilisation of resources to produce five changes: eradicate poverty and inequality, empower women, transform the global food system towards more plant-based diets, and rapidly decarbonise energy.

In particular, the book says the International Monetary Fund must provide $1.0 trillion annually to poorer nations to create green jobs, and rich governments to cancel debt to low-income creditors while giving their own citizens a "universal basic dividend" to help share corporate windfalls.

Rockstrom said the tools are already available to make the Great Leap possible.

"(It) is to do with the current knowledge on all the current existing technologies and practices and policies. If we could put in place all the five turnarounds and scale them up very fast, that's the best outcome we can have."

- 'Urgency point' -

The project comes after another record-breaking summer that has seen unprecedented heatwaves and drought in Europe and China and devastating floods in Pakistan.

Rockstrom said the world had reached an "urgency point" as climate-linked disasters occur more frequently than predicted in climate models.

"Here we are -- at 1.1C (of warming now), the things that we thought would happen perhaps at 2C are happening much earlier and are hitting harder," he said.

Rockstrom was recently involved in a paper studying the "climate endgame" -- scenarios such as the complete melting of the Greenland ice sheet or heating "feedback loops", which are deemed by scientists to be extremely unlikely and, he believes, therefore understudied.

He explained the possibility of "self-amplified warming", which is when the Earth itself is triggered into producing emissions from carbon stored in forests and methane in permafrost.

"There is a risk of rolling towards a worst-case scenario, not because we are ploughing in more carbon dioxide and greenhouse gasses from (manmade) sourcing but that the Earth system itself starts emitting these greenhouse gasses."

Rockstrom said scientists needed to "open up a much broader palette of scenarios" in climate models that could incorporate the kind of low-probability, high-impact events that could lead to runaway warming.

As to whether governments were finally ready to take the kind of system-changing action needed to avoid climate meltdown, Rockstrom said that he was "actually quite pessimistic".

"If you asked me three years ago, I would have said I was optimistic -- we saw a post-Paris momentum and more policies coming into play and businesses stepping on board," he said.

"Now with the post-Covid meltdown in public trust and the rise of populism ... I cannot see that we are really ready to implement all these giant leaps.

"That's why timing is really important. We need to bring back the debate and we have to have a conversation about the urgency of action. But is it a challenge? Definitely."

D.Dvorak--TPP